fiig rates mxupa as exceptional value, page-54

I love how HC always ignores negative posts:)

"The major problem is current liabilities are greater than current assets, as per last halfyearly financial report...

Does anyone know how Multiplex have got around this? Got another loan? Does anyone see danger here, with cash reducing, making a net loss, and having current liabilties > Current assets + facilities to borrow?

Can Multiplex grab it out of, say, Brookefield Multiplex Property Trust? Does the world not work that way?"

Any takers?


I sold out of MXUPA... I was umming, and erring about it... but, in the end, decided that AAM at 30c had more short-term upside than MXUPA at $75. I mean, I am up around 30% on AAM, where as I missed out on $2.5 per equity or so with MXUPA...

I do plan on getting back into MXUPA, but, I might ring up investor relations and ask them when the next teleconference is... if they can say how they handled the current liabilities, etc..... It has made me slightly uncomfortable.

MXUPA at $80 is nice even, IMHO. 25% upside in not too long a period of time + a nice running yield. I'll take that. Happily... if I'm convinced RE: current liabilities ... and, if I can bring myself to sell AAM. I'm also convinced we probably won't see conversion on the step-up date.

I have next ex-div date as 26th December, as a btw.